If companies intend to succeeded within today’s turbulent markets their Business Plans must be look at carefully and constantly integrated with Budgeting, Forecasting and Cost Analysis. This course will discuss new techniques, explain how they complement the traditional financial planning tools, and introduce new concepts for measuring and reporting performance. This Finance & Budgeting training course will enable candidates to develop a framework that links strategies to annual budget and targets, also aims for world class levels of management and organisational performance.
This Budgeting, Forecasting and the Planning Process training course will provide candidates with the skills and forecasting techniques to develop a budget as a plan, and use control budgets and analysis of variances to actual to identify areas in which financial performance may be improved.
This training course will highlight:
Budgets and Strategy nowadays Improve Strategic business Planning, Forecasting, and Budgeting analyzing data in Excel. Traditional and Modern Costing Systems that are used in the Budget Process. Best Practice in Operating Budgeting, Capital Investment Budgeting, and program rating. Objectives:
By the end of this training course, candidates will learn how to:
Improve their ability to think strategically and participate in the integration of the organisation’s strategic management and budgeting processes. Use forecasting techniques most appropriate to their organisation’s strategic planning and budgeting. Use best practice to develop operating budgets, cash flow budgets and forecasts in line with organisational strategic objectives. Appreciate the behaviour of costs and identify the costing methods. Apply the techniques that relate to the key principles of financial management: cash flow, time value of money and risk. Course Schedule Course Outline:
Day One Budgets and Strategy nowadays
Development of Modern Approaches to Costing, Planning, Budgeting and Application of Effective Forecasting Techniques. Organizational planning structure. The product /data/ decision support cycle. Day Two Improve Strategic Business Planning, Forecasting, and Budgeting
Stages in the Budget Preparation Process. To Budget or Not – Purposes and Reasons for Budgets. Activity Based Budgeting (ABB). Developing the Cash Budget. Identification of key value drivers. Day Three Analyzing Data using Excel ®
Difficulties of forecasting. Using historical Data to anticipate the future forecasting. Progress of time chain samples. Depend on regression analysis for guess and evaluation. Learn how to use of Exponential Smoothing perfectly as a data analysis tool. Day Four Traditional and Modern Costing Systems that are used in the Budget Process
Cost analysis allows to calculate costs of products. Use of costs: full costing and direct costing methodologies. Breakeven analysis. Fixed / variable costs. Defining Key Cost Drivers. Defining Key Activities. Day Five Best Practice in Operating Budgeting, Capital Investment Budgeting, and program rating
Identify the many kinds of Capital programs. Using WACC and ROIC as benchmarks. Development of the “Hurdle Rate” for capital projects. The key to effective decision making is evaluating and selecting the most valuable among the options. the effect period has on the value of money.